Tag Archives: National Bank of Georgia

Commersant has learnt that the Russian banking giant Alfa Bank enters Georgia. According to the source, Alfa Bank buys the assets of the Caucasus Development Bank-Georgia and the audit service has entered into the bank. The National Bank of Georgia (NBG) has revoked thebank’s license in September this year, as a …

Georgia paid 702 mln USD for debt pay/ service in the H1 of the year, but borrowed more by 484, 3 mln. As of the statistics published on the web-page of NBG, the payments of 6 months, 2016 are as follows: Governmental sector paid 117, 4 million USD and borrowed …

The Prime Minister announces regulations for strengthening and stabilization of GEL. The MP did not specify what measures should be taken by the new government jointly with the National Bank of Georgia. He linked another drop of GEL with the huge volume of negative trade balance. “Current changes are conditioned …

President of National Bank of Georgia made a comment on sharp drop of GEL with media on Thursday. Koba Gvenetadze declares that it is difficult to make a comment on short-term fluctuations during the floating exchange rate. It should be noted, that various deals and expectations have impact on currency …

In October 2016 Georgia’s currency reserves declined by 100 million USD and totaled 2.760 billion USD, down 30 million USD month on month and up 12.7% year on year (2.450 billion USD as of November 1, 2015). National Bank of Georgia (NBG) sold more than 150 million USD in October. …

The national bank of Georgia (NBG) has doubled interventions and extracted more than 94 million GEL from turnover. At currency auctions the NBG sold 40 million USD. Averaged weighed exchange rate totaled 2.3525. As reported, sales of foreign currency implies GEL extraction from turnover to provoke GEL strengthening. NBG started sales of …

GEL has dropped against USD, while strengthened against EUR. National Bank of Georgia has set a new exchange rate by September 20, according to which price of 1 USD will become 2,3167 GEL, 1 EUR /2.5866 GEL. Starting with September 19, the GEL has devaluated by 0.0056 point against USD, …

The National Bank of Georgia (NBG) has released a special statement on the new deal between TBC Bank and Bank Republic. The statement reads: “Regarding information on the current deals in the bank sector, the National Bank of Georgia (NBG) declares that negotiations between the parties are confidential and the …

The national bank of Georgia forecasts low inflation rate in the next months. “In August consumer price inflation rate declined to 0.9% and this tendency meets the existing prognosis. Base effect completion makes important influence on inflation rate reduction. The weak joint demand also promotes inflation slowdown. Under the current …

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 7, 2016 and decided to reduce the refinancing rate by 25 basis points to 6.5 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the phasing out of tight monetary …